In this article

Markets and some European leaders welcomed the news that U.S. President Donald Trump was standing down from imposing further tariffs on European countries — but others were left bewildered.

Trump told CNBC on Wednesday that he had the “concept of a deal” with NATO Secretary General Mark Rutte, shortly after declaring on Truth Social that he would not proceed with the levies he threatened on eight European countries from Feb. 1.

Markets on Thursday rose on the news, but questions remain about the supposed agreement on Greenland.

As the president didn’t share details of the framework — or who agreed to it — one strategist told CNBC: “Nobody’s going to believe him anymore.”